Recommended Games

BWC Arm, FutureGen Pen Deal

Babcock & Wilcox Power Generation Group Inc. (B&W PGG), an affiliate of leading clean energy technology and service provider The Babcock & Wilcox Co. (BWC), has entered into a deal with the FutureGen Industrial Alliance.

Per the contract, B&W PGG is expected to carry out full front-end engineering and design on the development of Meredosia, Illinois-based FutureGen 2.0 carbon capture and storage (:CCS) project. Included in the contract, the company will likely design and provide a boiler island, oxy-coal combustion system and gas quality control system.

B&W PGG added that the primary aim of the project is to reduce the carbon dioxide emission of the coal fired plant by 90% which comes to above 1 million tons annually.

B&W PGG reveals that the current deal with FutureGen Industrial Alliance represents the beginning of the second phase of the U.S. Department of Energy (:DOE) project. Moreover, DOE will provide finance of up to $49 million for Phase 2 operations of BWC. However, the manufacturing of the coal fired plant is expected to start by Jun 2014 and will constitute the third phase of the DOE-funded development.

Charlotte, North Carolina-based BWC is engaged in providing clean energy technology and services for nuclear, fossil and renewable power markets worldwide. The company operates in four business units: Power Generation, Nuclear Operations, Technical Services and Nuclear Energy.

BWC currently holds a Zacks Rank #2 (Buy), implying that it is expected to outperform the broader U.S. equity market over the next one to three months.